The multi-floor lease was signed between Kilroy Realty Corporation and Pac-12 Enterprises -- the content and media company of the Pac-12 Conference -- for space at 370 Third St.
The space will serve as the new headquarters and hub for Pac-12 Networks, the Pac-12 Digital Network and Pac-12 Properties -- the sponsorship, licensing and events management arm for the conference.
Some 70,000 square feet of the office space will be devoted to a state-of-the-art studio for Pac-12 Networks, which will televise more than 850 live sporting events annually.
Pac-12 Enterprises President Gary Stevenson said that the technology-rich neighborhood will be a valuable resource as decisions are made on distributing content.
"We are in the ideal location. It's very exciting," Stevenson said. "We love the vibrancy of San Francisco and believe it will be very conducive to the environment we envision."
San Francisco Mayor Ed Lee said that the city is equally excited about the decision.
"They looked at other areas. There was a big push for Hollywood, but they indicated to us the future is in San Francisco," Lee said at an unrelated news conference this morning.